https://www.taxtmi.com/caselaws?id=215003 The protective regime under the Sick Industrial Companies (Special Provisions) Act, 1985 could be invoked only if the reference was maintainable on the date of filing. Because the petitioner had already sold and lost possession of its plant and machinery before that date, it no longer qualified as an industrial undertaking and the reference failed. The subsequent auction sale of the land and building was not treated as void on the petitioner's challenge, since the threshold condition for section 22(1) protection itself was absent and later events could not cure that defect. The writ petition therefore failed and the impugned orders were upheld. en-us Mon, 02 May 2011 00:00:00 +0530 Sat, 26 May 2012 12:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215003 The protective regime under the Sick Industrial Companies (Special Provisions) Act, 1985 could be invoked only if the reference was maintainable on the date of filing. Because the petitioner had already sold and lost possession of its plant and machinery before that date, it no longer qualified as an industrial undertaking and the reference failed. The subsequent auction sale of the land and building was not treated as void on the petitioner's challenge, since the threshold condition for section 22(1) protection itself was absent and later events could not cure that defect. The writ petition therefore failed and the impugned orders were upheld. Case-Laws Companies Law Mon, 02 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215003